- Westbridge Diversified Fund No.4 acquired two adjoining industrial facilities in Broadmeadows, VIC
- The fund is in the process of acquiring another facility in Canning Vale, WA
- The fund has a goal of building a $100-150M portfolio
Western Australian property funds manager Westbridge Funds Management has announced a successful settlement for a fund’s seed asset.
Westbridge Diversified Fund No.4 has settled on two adjoining industrial distribution facilities in Broadmeadows, Melbourne. This transaction totalled circa $15.36 million.
The facilities are located on a 1.43-hectare site and both were purchased on a 7-year sale and leaseback to Holman Industries, which supply hose pipe and reticulation products to a range of outlets including Bunnings, Tradelink and Reece.
The fund is currently in the process of acquiring a second asset: a freshly upgraded warehouse logistics facility in Canning Vale, an industrial suburb in Perth. The 23,177sqm site is fully leased to J Blackwood & Son, which a subsidiary of Wesfarmers Limited.
“The recent settlement of the Broadmeadows property, and the acquisition of the Canning Vale facility are in line with the Fund’s goal of building a $100-150 million portfolio featuring up to 12 high-quality commercial properties diversified by state, asset class and number of tenants,” said Westbridge’s Head of Commercial Funds, Alex Lambert.
“We envisage the portfolio being diversified across commercial sectors including industrial, medical, large format retail and more.
“A core goal is to acquire properties with strong lease covenants, targeting quality national, international, and publicly listed tenants.”
Alex Lambert, Westbridge Head of Commercial Funds

Westbridge Funds Management has been operating for over 20 years and manages over $500 million worth of both commercial and residential property funds, along with over 20 residential development projects.
Expressions of interest are now open for the fund, with a minimum capital raising of $8.75 million, with a minimum investment of $50,000.
For FY22, the fund has a distributions target of 6.5% and is aiming to acquire assets that will increase the target to 7% for FY23.
Along with high yields, investors will also benefit from tax-advantaged distributions and depreciation benefits.